Review of Bank of Nova Scotia

OCT 10, 2024 - BNS has established itself as a leading bank in the Americas offering a broad range of services and products such as personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The Bank employs 89,239 workers, has 2,279 branches and offices, and 8,584 automated-banking-machines (ABMs). BNS is the cheapest Canadian Bank and also pays the highest yield. We think further multiple expansion could occur as BNS executes on its strategy and continues to string together earnings beats. With a positive outlook we are maintain our rating of an A-.

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Toronto-Dominion Bank (The) (TD $122.15)
- $122.15 P/E (TTM): 10.31X Cap: $208.53B
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Bank of Nova Scotia (The) (BNS $99.39)
- $99.39 P/E (TTM): 19.09X Cap: $123.40B
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Bank of Montreal (BMO $175.45)
- $175.45 P/E (TTM): 14.82X Cap: $124.37B
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Manulife Financial Corporation (MFC $48.46)
- $48.46 P/E (TTM): 15.34X Cap: $81.65B
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TMX Group Limited (X $51.27)
- $51.27 P/E (TTM): 31.07X Cap: $14.26B
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Sun Life Financial Inc. (SLF $58.47)
- $58.47 P/E (TTM): 20.28X Cap: $32.67B
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Brookfield Asset Management Ltd. Class A Limited Voting Shares (BAM $73.73)
- $73.73 P/E (TTM): 32.65X Cap: $118.75B
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Q: My financial holdings are TD, BNS, BMO, MFC and SLF. With the recent surge in the banks I am looking to rebalance back to a 50/50 split between banks and insurance companies. If you were to add a third insurance company, which would it be? Or should I add a non-bank/insurance company like BAM or X which is still classified as financial? I am only interested in large cap, dividend-paying stocks.

Read Answer Asked by David on December 08, 2025

Bank of Nova Scotia (The) (BNS $99.39)
- $99.39 P/E (TTM): 19.09X Cap: $123.40B
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Enbridge Inc. (ENB $66.81)
- $66.81 P/E (TTM): 25.46X Cap: $145.73B
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Loblaw Companies Limited (L $61.82)
- $61.82 P/E (TTM): 7.68X Cap: $73.89B
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Constellation Software Inc. (CSU $3,336.47)
- $3,336.47 P/E (TTM): 75.52X Cap: $70.70B
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Intact Financial Corporation (IFC $274.76)
- $274.76 P/E (TTM): 22.83X Cap: $48.85B
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WSP Global Inc. (WSP $241.45)
- $241.45 P/E (TTM): 36.15X Cap: $31.53B
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- View Reports on WSP
Descartes Systems Group Inc. (The) (DSG $128.11)
- $128.11 P/E (TTM): 54.15X Cap: $11.01B
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Agnico Eagle Mines Limited (AEM $228.33)
- $228.33 P/E (TTM): 28.54X Cap: $114.78B
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Shopify Inc. Class A Subordinate Voting Shares (SHOP $219.68)
- $219.68 P/E (TTM): 89.3X Cap: $285.86B
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Brookfield Corporation Class A Limited Voting Shares (BN $64.32)
- $64.32 P/E (TTM): 92.1X Cap: $144.41B
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Q: Similarly to the question asked by David regarding your Income portfolio, for B-E portfolio, what would be your top 10 stocks in the order you would buy. Based on anticipated total return (dividends + stock price increase) for the next five years expectations. I would also appreciate if you could add to these stocks your return expectations and risk ratios on the scale of 1 to 10, with 10 being highest. Thanks.

Read Answer Asked by Michael on December 04, 2025

Amazon.com Inc. (AMZN $226.89)
- $226.89 P/E (TTM): 32.42X Cap: $2.42T
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Alphabet Inc. (GOOG $314.45)
- $314.45 P/E (TTM): 31.8X Cap: $3.87T
- View GOOG Profile
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GE Aerospace (GE $287.19)
- $287.19 P/E (TTM): 37.91X Cap: $302.93B
- View GE Profile
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JPMorgan Chase & Co. (JPM $315.21)
- $315.21 P/E (TTM): 15.6X Cap: $858.08B
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Walmart Inc. (WMT $113.56)
- $113.56 P/E (TTM): 43.27X Cap: $905.09B
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Royal Bank of Canada (RY $226.45)
- $226.45 P/E (TTM): 17.0X Cap: $317.07B
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Bank of Nova Scotia (The) (BNS $99.39)
- $99.39 P/E (TTM): 19.09X Cap: $123.40B
- View BNS Profile
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- View Reports on BNS
BCE Inc. (BCE $32.38)
- $32.38 P/E (TTM): 4.89X Cap: $30.19B
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Loblaw Companies Limited (L $61.82)
- $61.82 P/E (TTM): 7.68X Cap: $73.89B
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Sun Life Financial Inc. (SLF $81.10)
- $81.10 P/E (TTM): 20.28X Cap: $45.20B
- View SLF Profile
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- View Reports on SLF
Fortis Inc. (FTS $70.16)
- $70.16 P/E (TTM): 20.25X Cap: $35.45B
- View FTS Profile
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WSP Global Inc. (WSP $241.45)
- $241.45 P/E (TTM): 36.15X Cap: $31.53B
- View WSP Profile
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- View Reports on WSP
Exchange Income Corporation (EIF $80.51)
- $80.51 P/E (TTM): 29.73X Cap: $4.37B
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Hydro One Limited (H $52.94)
- $52.94 P/E (TTM): 24.48X Cap: $31.75B
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Q: How would you define a "core holding" in a portfolio? The above listed companies I consider to be core holdings. Does this list broadly match your definition of what type of companies should make up core holdings in a portfolio? Are there names in that list that you would NOT consider to be "core holdings"?
Thank you for your work and please deduct as many credits as you see fit.

Read Answer Asked by John on December 05, 2025